mt. Gox Wallet Transfers 6,800 BTC As Ex-CEO Plans To Redistribute $6 Billion

A cold wallet of the infamous Bitcoin (BTC) exchange Mt. Gox transferred 6,800 BTC to an unknown wallet just days after former CEO Mark Karpeles revealed plans to redistribute $6 billion worth of BTC to its creditors.

mt. Gox was a Tokyo-based Bitcoin exchange that was shut down in February 2014 after a hack that compromised 850,000 BTC. in a recent interviewKarpeles revealed that the exchange held about 200,000 BTC during the company’s shutdown, with the trustee selling about 50,000 BTC for $600 million in the past.

According to Karpeles, the remaining 150,000 BTC currently held by Mount Gox has increased in value over the years – and is worth more than $6 billion. Following this disclosure, the former CEO confirmed plans to redistribute the money and settle accounts with creditors.

Five days after the Karpeles interview, Crypto Twitter’s @whale-alert highlighted that 6,800 BTC, worth nearly $319 million, was transferred to an unknown wallet from a cold wallet of the now-defunct Mt. Gox Scholarship.

Details on the 6,800 BTC transfer between Mount Gox and unknown wallet. Source: WhaleAlert

Despite not being operational for over 8 years, the Mount Gox team has previously shared a rehabilitation plan to compensate creditors. However, the transfer of 6,800 BTC signals a possible beginning of the plan.

Related: Rare Bears Discord Phishing Attack Hits $800K in NFTs

While crypto firms continue to implement various security measures to fend off attacks, bad actors have kept up with the change to lure unwary investors.

On March 18, the recently launched nonfungible token (NFT) project, Rare Bears, confirmed a successful phishing attack – resulting in a loss of nearly $800,000 worth of NFTs.

As Coin-Crypto reported, the hacker was able to compromise a moderator’s account on Discord and post phishing links that eventually drained users’ wallets. The Rare Bears team was eventually able to delete the compromised account and secure the server from further attacks.

Leave a Comment